My Bad, I should have figured it out based on three models per tract, I thought those were the starting prices per plan. In my defense that concept is so silly I couldn’t have figured that out on my own, that’s like buying futures. Quick, strike the price now before it goes up. Let’s see, verge of the worst market collapse in history and in the worst place of the hardest hit region, ooh sign me up. I hope they buy you dinner and flowers before they &^%$ you.
You know what I think, they are preparing to fold the tract. In the early nineties a bunch of developers shut down their tracts half built, packed up and left. They had obligations to build improvements like parks and common areas that they hadn’t done. In Temecula, the city seized the models, auctioned off the furniture and then auctioned off the houses, then with the proceeds they built the things that were promised in the development plan so as to not burden the taxpayers or leave the vacant lot the builder was supposed to make into a park or whatever the deal was. They also did this to keep HOA’s from eating it on 1/3 built defunct tracts and banked the proceeds so the HOA could survive and pay for the pool untl the market turned and a fill in development could finish it out. Seems to me the builders are setting up a possible exit, like someone preparing for bankruptcy or has a big IRS lein leases their car so it won’t be seized as an asset. If there is one place where will see the first tent folding by the builders it is in French Valley. Something stinks in Denmark.
Who remembers the Temeku hills golf course, they built a brand new gold course and had about a thousand unbuilt lots, then just let the grass die and fenced the whole thing for about 4 years, boy was that a peach to look at. On the plus side, the kids on their BMX bikes think they died and went to heaven.
